South Africa's Minister of Minerals and Energy Welcomes Denham Capital Investment in BioTherm Energy to Develop Power Generation Business

... Partnership will help alleviate South African power crisis ...JOHANNESBURG South Africa and BOSTON Nov. 9 /- DenhamCa...Commenting on Denham Capital's investment Buyelwa Sonjica SouthAfri...The Minister opened the 4.2 MW biogas to power plant based at thePet...

JOHANNESBURG, South Africa and BOSTON Nov. 9 /PRNewswire/ -- Denham
Capital, a leading energy-focused global private equity firm, announced
today that it will invest equity of up to R1,5 billion (US $150 million, 95
million pounds Sterling) in BioTherm Energy, a South African developer,
owner and operator of renewable and clean energy generation projects.

Commenting on Denham Capital's investment, Buyelwa Sonjica, South
Africa Minister of Minerals and Energy said, "Having opened BioTherm's
first plant just over a year ago, we are delighted with this substantial
investment by Denham Capital, a major foreign investor, in a business that
will generate more electricity in South Africa, contribute to the reduction
of greenhouse gasses and create more jobs in the South African economy."

The Minister opened the 4.2 MW biogas to power plant, based at the
PetroSA facility in Mossel Bay, east of Cape Town, in September 2007. At
that time, it was the first private sector renewable power generation
project in Southern Africa funded under the Clean Development Mechanism
("CDM") of the Kyoto Protocol, under which the project earns carbon credits
because of its contribution to the reduction of greenhouse gasses. Under
the European carbon-trading scheme these credits are in turn sold,
primarily to European industries, which need to reduce the cost of their
compliance liabilities.

The opportunity for small scale, on-site generation in South Africa has
grown significantly and BioTherm Energy has secured, and is continuing to
develop, a substantial pipeline in waste gas co-generation, biomass and
combined heat and power projects, many of which qualify for carbon credits
under the Kyoto Protocol. These projects can generate electricity much more
rapidly than conventional large-scale power projects, thereby providing
needed relief to the South African power system.

Dr. Louis van Pletsen, a Partner and Head of the London Office of
Denham Capital, said, "Denham Capital will provide the necessary equity
capital for BioTherm Energy to develop, invest or acquire projects
totalling approximately 300 MW, equivalent to the electricity needed to
supply about 500,000 households. Private sector investment from companies
such as BioTherm Energy will be essential in addressing South Africa's
energy deficit." He added, "Our investment in BioTherm reflects the range
and geographic reach of Denham Capital's energy investment strategy."

Charles Liebenberg, co-founder and CEO of BioTherm Energy, said that a
partnership with Denham Capital will allow BioTherm Energy to continue its
aggressive expansion programme. He went further to say, "For years South
Africa has had cheap energy and an unfortunate result of this is
inefficient usage. BioTherm Energy's projects ensure that all forms of
energy can be best harnessed to avoid waste, reduce carbon emissions and
provide reliable power. The Power Conservation Programme, which will ration
electricity supply to all consumers, reflects the severity of the power
crisis in South Africa which BioTherm can help address."

BioTherm Energy is targeting energy intensive industries where
industrial processes release significant amounts of waste energy both as
heat and gasses. BioTherm Energy utilises this wasted energy to produce
electricity and/or steam, which it sells to the host site or to third
parties, including Eskom, the South African public electricity utility.

BioTherm Energy is also instituting multi-level sustainability in all
of its projects through the participation of Black Economic Empowerment
("BEE") partners and community-based development programmes.

"Our investment in BioTherm reflects our strong belief in the potential
for innovative solutions to the South African power crisis," said Scott
Mackin, a Partner at Denham Capital. "We are delighted to be working to
develop this exciting and valuable business, with a highly skilled and
committed management team with a proven track record. We believe BioTherm
Energy is well positioned to deliver much needed additional clean and
reliable power to the Southern African economy."

Notes to editors

About BioTherm Energy:

BioTherm Energy (Pty) Ltd (BioTherm Energy) is a cleaner and renewable
energy company based in Johannesburg, South Africa. It develops, owns and
operates turn-key energy waste to energy, renewable energy and energy
efficiency projects in the sub-utility range of 5 - 100MW. BioTherm Energy
makes extensive use of carbon finance as created by Article 12 of the Kyoto
Protocol (the "Clean Development Mechanism" or "CDM") to finance projects.
The BioTherm Energy geographical target market is Southern Africa. For more
information about BioTherm Energy visit http://www.biothermenergy.com.

About Denham Capital:

Denham Capital is a leading global energy-focused private equity firm,
with offices in Boston, Houston, Short Hills, New Jersey, London and Sao
Paulo. With approximately US$4.3 billion of invested and committed capital,
Denham makes direct investments in all segments of the energy and
commodities value chain, including oil and gas, mining, timber, power,
carbon assets and energy-related infrastructure and services. The firm
invests globally, with investments currently in the USA, Canada, South
America, Europe, Russia/CIS, Asia and Australia, and across all parts of
the capital structure and all stages of the corporate and asset lifecycle,
from development projects to mature, operating businesses. Denham typically
targets investments in the US$50 million to US$250 million range. For more
information about Denham Capital, visit http://www.denhamcapital.com. Denham
Capital does not provide investment advisory services to the public.

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